GST Articles

GST Taxability of Salvage/Wreck Value in Motor Vehicle Damage Claims

CA Amit Harkhani 03 September 2024 at 14:27

The insurance companies, which are engaged in providing general insurance services in respect of insurance of motor vehicles, insure the cost of repairs/damages of motor vehicles incurred by the policyholders.

No ITC reversed for the portion of the LIC premium not included in the taxable value, as per Rule 32(4)

CA Amit Harkhani 03 September 2024 at 08:46

Life insurance companies provide services by insuring the life of the insured. In exchange, they charge a premium, which may include components for both risk cover and investment/savings.

The Evolution of Taxation in India: From Ancient Times to GST

akansha Singh 02 September 2024 at 13:59

Over the decades, there has been a significant change in the practice of charging income tax. Let us look into the history of income tax from ancient times.

GST on Passenger Transportation in EVs and Renting of EVs

Shashank Tellakula Anand 31 August 2024 at 08:46

GST on Passenger Transportation in EVs and Renting of EVs Renting v/s Transportation of Passengers:As per Circular No. 177/09/2022-TRU Entry 15:Renting of moto..

Mechanism to compliance of Section 15(3)(b)(ii) of CGST Act, 2017

CA Amit Harkhani 30 August 2024 at 13:25

Here's a simplified explanation of the mechanism for providing evidence of compliance with Section 15(3)(b)(ii) of the CGST Act, 2017 (Circular No. 212/6/2024_26.06.2024).

Impact of New GST Registration Rules on Startups

Ishita Ramani 30 August 2024 at 08:48

This article examines how the new GST registration regulations will affect startups, highlighting the advantages as well as the difficulties.

Introduction of RCM Liability/ ITC statement

Affluence Advisory 30 August 2024 at 08:45

A statement called RCM liability/ ITC statement has been introduced on GST portal.

Potential Changes in GST Slabs: 12% vs 18% GST Slabs

Sachin 28 August 2024 at 08:35

A ministerial group is thoroughly reviewing GST rates in the 12% and 18% brackets. Decisions on potential changes are expected by the end of September.

GST Taxpayers Without Valid Bank Account to Be Barred from Filing GSTR-1 from 1st September

Sachin 27 August 2024 at 08:36

From September 1, 2024, GST taxpayers must have a valid bank account linked to their GST registration to file GSTR-1.

Bursting the Handi of Fake GST Registration!!

CA Umesh Sharma 26 August 2024 at 13:52

Celebrate Janmashtami with Krishna's wisdom on good triumphing over evil. Discover the government's second special drive against fake GST registrations and its role in combating fraud in the GST system, much like breaking the Dahi Handi to reveal hidden treasures.